Another ‘partnershib’? The interest in Shiba Inu [SHIB] has been on an uptrend since last year. The community has time and again snagged listings and partnerships from firms across the globe. Certain platforms, despite onboarding the asset continue to elevate their presence in their respective systems. In a similar attempt, crypto payment gateway, NOWPayments announced that would allow its merchants to burn SHIB.
Shiba Inu has consistently proved to be a community-driven network. Several in the community are so involved with the asset that they carry out token burns. While some do it to spruce up the price, a few others hope to increase its utility. Nevertheless, the community consists of an array of entities throwing Shiba Inu burn parties.
Further easing things out, NOWPayments decided to roll out the optional burn feature for Shiba Inu and LEASH.
This feature is optional. Interested merchants can merely go to the store settings and enter desired details under the Burn ‘SHIB & LEASH’ feature. The burn percentage would be taken out of the user’s SHIB and LEASH profits in their respective NOWPayments account.
The process is streamlined through just four major steps.
Users have to select the percentage mark-up to initiate the process and then click on save changes. Following payment from the client, the burning stats will be displayed through a .csv file. This data can be acquired through the “Get burning stats” button.
The final amount of Shiba Inu and LEASH sent to the dead wallet would reportedly be displayed in the file.
Shiba Inu’s price remains untethered amidst increased burning
After a brief surge yesterday, Shiba Inu was back in the red sea. The altcoin hasn’t been showing major changes in its price. During press time, SHIB was trading for $0.00002336 with a drop of 0.65 percent over the last 24-hours. The asset managed to amass gains worth only 7 percent over the last couple of days.
Despite constant complaints about the price of the altcoin, the lead developer of the network, Shytoshi Kusama pointed out that the utility of the asset was on the rise. Addressing the latest move of NOWPayments, Kusama said,
“This is a huge advancement for all of the merchants that currently (and in the future will) accept #SHIB for payment. Another powerful piece of a puzzle being woven showcasing the ongoing UTILITY of the best Crypto in the world.”